PHINIA INC.

Listed Company

PHINCIK 0001968915NYSELarge AcceleratedMotor Vehicle Parts & AccessoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.48B

Net Income

$130.00M

Total Assets

$3.82B

Equity

$1.59B

Shares Out

37.02M

Op. Cash Flow

$312.00M

Business

PHINIA INC. develops, designs and manufactures integrated components and systems to optimize performance, increase efficiency and reduce emissions for combustion and hybrid propulsion across commercial, industrial and light vehicles. The company offers advanced fuel injection systems, fuel delivery modules, canisters, sensors, electronic control modules, software and calibration services, along with original equipment service solutions, remanufactured products and independent aftermarket parts. PHINIA reports results through two segments: Fuel Systems and Aftermarket. It serves a global customer base, selling primarily directly to OEMs under negotiated contracts and through independent aftermarket channels.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	3,483	3,403	3,500	3,348	3,227
Cost of sales	2,721	2,647	2,776	2,627	2,551
Gross profit	762	756	724	721	676
Selling, general and administrative expenses	445	442	413	407	460
Restructuring expense	17	14	12	11	55
Other operating expense, net	46	41	58	−4	−13
Operating income	254	259	241	318	174
Equity in affiliates earnings, net of tax	−15	−11	−10	−11	−7
Interest expense	81	99	56	20	35
Interest income	−14	−16	−13	−6	−1
Other postretirement expense	4	0	2	−32	−39
Earnings before income taxes	198	187	206	347	186
Provision for income taxes	68	108	104	85	33
Net earnings	130	79	102	262	152
Earnings per share basic (in dollar per share)	3.31	1.8	2.17	5.57	3.23
Earnings per share diluted (in dollar per share)	3.24	1.76	2.17	5.57	3.23
Basic (in shares)	39	44	47	47	47
Diluted (in shares)	40	45	47	47	47

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-09-30	FY 2022 2022-12-31
Cash and cash equivalents	359	484	365	—	251
Receivables, net	804	817	1,017	—	891
Inventories	473	444	487	—	459
Prepayments and other current assets	126	96	58	—	40
Total current assets	1,762	1,841	1,927	—	1,641
Property, plant and equipment, net	876	843	921	—	922
Investments and long-term receivables	145	111	115	—	325
Goodwill	509	471	499	—	490
Other intangible assets, net	398	374	417	—	432
Other non-current assets	127	128	162	—	264
Total assets	3,817	3,768	4,041	—	4,074
Short-term borrowings and current portion of long-term debt	3	25	89	—	—
Accounts payable	510	522	639	—	686
Other current liabilities	434	422	420	—	484
Total current liabilities	947	969	1,148	—	1,170
Long-term debt	967	963	709	—	—
Retirement-related liabilities	141	112	132	—	79
Other non-current liabilities	175	150	165	—	1,156
Total liabilities	2,230	2,194	2,154	—	2,431
Commitments and contingencies (see Note 20)	—	—	—	—	—
Common stock, $0.01 par value; authorized shares: 200,000,000; issued shares: (2025 - 47,013,661, 2024 - 47,013,661); outstanding shares: (2025 - 37,915,162, 2024 - 41,643,883)	1	1	1	—	—
Additional paid-in capital	1,978	1,976	2,031	—	—
Retained earnings	132	44	9	−13	—
Accumulated other comprehensive loss	−98	−217	−131	−110	−88
Treasury stock, at cost: (2025 - 9,098,499 shares, 2024 - 5,369,778 shares)	−426	−230	−23	—	—
Total equity	1,587	1,574	1,887	—	1,643
Total liabilities and equity	3,817	3,768	4,041	—	4,074

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net cash provided by operating activities (see Note 25)	312	308	250	303	147
Capital expenditures, including tooling outlays	−124	−105	−150	−107	−146
Payments for businesses acquired, net of cash acquired	−9	0	0	—	—
Insurance proceeds received for damage to property, plant and equipment	0	3	0	0	—
Payments for investment in equity securities	0	−1	−2	0	0
Proceeds from asset disposals and other, net	1	2	2	2	6
Net cash used in investing activities	−132	−101	−150	−105	−140
Proceeds from issuance of long-term debt, net of discount	—	975	708	—	—
Payments for debt issuance costs	0	−15	−14	0	0
Borrowings (repayments) under revolving facilities	1	−75	75	0	0
Repayments of debt, including current portion	−24	−722	−4	−1	—
Repayment Of Acquired Debt	32	0	0	—	—
Dividends paid to PHINIA Inc. stockholders	−42	−44	−23	—	—
Payments for purchase of treasury stock, including excise tax	−202	−212	−24	—	—
Payments for stock-based compensation items	−11	−3	−1	—	—
Net cash (used in) provided by financing activities	−310	−96	20	−185	−44
Effect of exchange rate changes on cash	5	8	−6	−21	4
Net (decrease) increase in cash and cash equivalents	−125	119	114	−8	−33

Filings

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